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In principle, full implementation of the new supervisory framework would allow funds from the €500 billion European Stability Mechanism, the euro zone's permanent bailout fund, to go directly to ailing banks without the debt being added to member states' balance sheets.
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"We have reached a political consensus on the creation of a European financial supervisory framework".
A faster implementation of a common supervisory framework for European banks under the E.C.B. is indispensable.
Mr. Goutard will be head of a new supervisory board.
The old supervisory framework assumed that if the 100 largest banks were individually safe, then the system was too.
The muscle consists of a new supervisory body for America's accountants.
With the reputation of market discipline in tatters, central bankers will get vast new supervisory powers.
Or a new supervisory role for euro-zone governments, or, heaven forbid, the useless European Parliament?
Alain Joly, erstwhile boss of Air Liquide, a gas supplier, became chairman of its new supervisory board in 2001.
The plan outlined by the European Commission would, if ratified, give the central bank new supervisory powers on Jan . 1
The agency has implemented major changes since then, including training and new supervisory policies to monitor road stops.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com